Arcius Expands Regional Gas Portfolio with Acquisition of Egypt’s Harmattan Field in the Eastern Mediterranean
Arcius, the regional gas joint venture between bp and XRG, announced today that it has entered into a binding agreement to acquire the Harmattan gas and condensate field, an offshore discovery located in Egypt’s Eastern Mediterranean waters, 2.5 kilometers north of Ras El Barr in the Damietta Governorate. The acquisition, which remains subject to regulatory approvals, marks a significant step in Arcius’s strategy to expand its regional gas footprint and support energy security across the Eastern Mediterranean.
Under the development plan, Arcius will drill up to three production wells and install a fixed offshore platform connected to onshore processing facilities near Port Said via a 50-kilometer subsea pipeline. Production is expected to commence in 2028.
Naser Al Yafei, CEO of Arcius, commented:
> “This acquisition is a key milestone for Arcius, reinforcing our partnership with the Egyptian Government through the Egyptian Natural Gas Holding Company (EGAS), and reaffirming our commitment to advancing regional energy security and sustainable economic growth.”
The Harmattan field is part of the El Burg Offshore concession currently owned by Shell (60%) and bp (40%). Following completion, Arcius—jointly owned by bp (51%) and XRG (49%)—will assume operatorship of the concession.
Arcius was established in December 2024 as a strategic partnership that combines bp’s global technical expertise and XRG’s energy investment capabilities to build a world-class, competitive gas portfolio. The company aims to develop natural gas assets that meet rising domestic energy demand, while contributing to long-term regional stability and economic development.
A Strengthened Regional Presence
The acquisition aligns with Arcius’s broader growth ambitions in the Eastern Mediterranean, where it already holds key assets and exploration interests. The company’s portfolio includes:
10% of the Shorouk concession, home to Egypt’s giant Zohr gas field;
100% of the North Damietta concession, which contains the producing Atoll field;
Interests in the North El Tabya, Bellatrix-Seti East, and North El Fayrouz exploration blocks.
Building on a Legacy of Partnership
The creation of Arcius builds on a 50-year partnership between ADNOC and bp, reflecting both companies’ shared commitment to responsible energy development and regional cooperation.